Momentum Raises Strategic Round Led By OKX Ventures, Coinbase Ventures, Protagonist and DNA Fund
Central liquidity engine of the Move ecosystem surpasses $3 billion swap volume in less than two months, becoming the fastest growing DEX on Sui; will use strategic funding round to help grow Sui DeFi ecosystem
SAN FRANCISCO, June 4, 2025 – Momentum, one of the fastest-growing decentralized exchanges (DEX) on the Sui blockchain, has raised a new strategic funding round at a $100 million valuation led by OKX Ventures with participation from Coinbase Ventures, Gate Ventures, MEXC Ventures, KuCoin Ventures, and strategic partners Protagonist and DNA Fund. The influx of capital will be used to continue Momentum’s astronomical growth within the Sui DeFi ecosystem. This funding round follows a previous round of $10 million led by Varys Capital in March 2025.
OKX Ventures recognizes Momentum’s position as a leading DEX on the Sui blockchain, with its innovative approach to liquidity management and ecosystem development. The investment aligns with OKX Ventures’ strategy of supporting promising infrastructure projects that contribute to blockchain ecosystem growth. Momentum has demonstrated strong technical execution and adoption metrics since its launch, positioning it as an important contributor to the expanding Sui Network ecosystem.
“We are delighted to partner with and invest in Momentum, whose model will effectively enhance trading efficiency, boost liquidity depth and increase user rewards. This innovative approach has the potential to make a significant impact in the DeFi space, especially for the Sui ecosystem,” said Cass Cai, Head of KuCoin Ventures.
Momentum has established itself as one of the fastest-growing liquidity engines on Sui, powered by its innovative ve(3,3) DEX model. It has achieved $3 billion in swap volume, $69 million in TVL, and has surpassed 420,000 users within just two months.
In addition to the respected backers joining Momentum’s latest funding round, additional funding came from prominent industry leaders, including Coin Bureau, Monke Ventures, MultiChain Advisors (MCA), Crypto Lark (@TheCryptoLark) @theonlynom (Core Contributor at Bonk), and others.
The latest funding builds on early strategic support from Circle Ventures, Coinbase Ventures and Sui Foundation, and positions Momentum as a leading force in the Sui ecosystem and one of the most highly anticipated projects in DeFi.
Led by co-founder ChefWEN (@ChefMMT_X), the architect of MSafe and senior engineer of Meta’s Libra project, Momentum has established its security track record since its launch in May 2022. This is achieved through audited smart contracts, a robust review process, real-time monitoring and 24/7 support, ensuring minimal fund risk while earning and building trust with both retail and institutional investors.
“Sui’s architecture sets a new standard for DeFi infrastructure – enabling near-instant transaction finality, scalable performance under heavy load. It takes a strong chain to make a DEX that delivers, and because of this, I’m confident in Momentum’s ability to build a DEX that delivers a seamless, CEX-like experience entirely on-chain,” said ChefWEN.
Momentum’s groundbreaking ve(3,3) DEX incentivizes liquidity through vote-escrowed tokenomics, redistributing 100% of protocol revenue to stakers. This flywheel, token locking, voting and deeper liquidity pools set Momentum apart from the competition.
About Momentum
Momentum is a Move-native DEX built on Sui, offering trading, vesting, and treasury management for both retail and institutional participants. Backed by Coinbase Ventures, Circle Ventures, OKX Ventures, Vary’s Capital, Selini Capital, Amber Group, Protagonist and Sui Foundation, it’s co-founded by ChefWEN, an early architect of Meta’s Libra project. Mirroring the success of Aerodrome which boasts 73% market share of Base on-chain volume, the groundbreaking ve(3,3) model is set to provide deeper liquidity with better rates for traders and higher earnings for liquidity providers.
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